The influence of the tensile stress on the flux reversal phenomena in as-quenched state of Fe77.5Si7.5B15 is investigated. A large and stable Barkhausen jump is observed at a field H*, called the switching field. The switching field H* passes through a minimum as tensile stress increases and the jump in magnetization M* at H* grows with stress. It is observed that H* of the sample can be modified by flash annealing under stress. The results on magnetic properties like coercive field, squareness ratio, power loss of as-quenched and stress-annealed samples are presented. The stress annealing induces elastic and plastic components in anisotropy.